Seriously, I've been messing with it and it sucks. You get like 1/3rd the health for 2-3x the regeneration. Sadly the regeneration is still too slow to affect any real battles. It DOES help with the shields downtime. I don't have to wait very long at all to regen my shields to full. However again, the health of these shields is just TOO LOW.
Also I've noticed that the rarer the REGEN shield you get, the worse the health! I can have over 6000 health with one shield with poor regen, or 2400 health with great regen, or that rare double regen with 1700 health and very great regen.
It's just not worth it. You sacrafice too much shielding. You'll fall like nothing. The regen isn't fast enough to make it worth it since your shields will fall 10x faster then any significant regen could happen.